Cryptocurrency bank Silvergate has lost 68% of its digital deposits. Here’s what we know about its predicament

Per MarketWatch: Following the flow of high-profile collapses in the virtual-currency industry last year, Silvergate Capital Corp. on Thursday surprised investors with some startling fourth-quarter numbers two weeks early.

Total deposits declined 53% to $6.2 billion as of Dec. 31 from $13.1 billion as of Sept. 30. Silvergate said about $150 million of its total deposits “were from customers who have filed for bankruptcy.”

In a conference call before the stock market opened, CEO Alan Lane said the bank’s customers were “moving to a risk-off position in digital trading platforms.”

Heads up to everyone on this sub